I will agree that a buyout/merger would normally be unlikely. But, this is not your normal situation. This is a BioPharma Co. with a phase 3 study on a life extending Cancer treatment with high likelihood of success because FDA has held their hands due to the last go around not passing. This is also a company that was listed on Nasdaq up until just a few months ago and would still be if shareholders had voted for reverse split. The company left Nasdaq in good standing and could easily up list once compliant (after a CEO and name change hopefully). DCTH has not been attractive to most investors large and small because of their death spiral financing with a lender who held the papers to their Patent's. This coupled with lack of information on the phase 3 study painted a pretty risky picture. Now... with the interim safety report out and it being positive.(HUGE) The notes fully converted (at least contractually) Their patents are now free and clear (HUGE) and the note holders now don't have the motivation they did to force share price down. (HUGE) Now with enough money raised to keep operations going for the next few months I feel this gives them the time to work out their deal before the need to raise more money. This has been a rough ride but I feel we have seen the worst of days. Yes, the EX Note holders have the right to a lot of shares. But, If I am right a lot of these shares will be sucked up by the acquiring company before they announce their intentions to the public. Then the deal will be made by amending the S-1 Filing already in place in order to facilitate the deal. The appointment of Simon Pedder was not a coincidence by any stretch. He would not risk his reputation by being on the board of a company that was headed to the pinks on a one way path to OTC oblivion. No. He is a deal maker and possibly even the future CEO of this company. What better way to learn the ropes of this company in order to hit the ground running. Yes, this is a long shot scenario I know, but it is the one I think best fits the facts at hand. Jenny may be a cut throat B*#ch but she is a survivor who wants to save face. I feel she may come through for us in the end. IMO.